Hello Cool Community, we are happy to announce that the long awaited Seed Sale To Early Backers is now live. $COOL Token is the utility token that will power the Coollaunch.io ecosystem (For more information about $COOL Token).

Seed 𝐒𝐚𝐥𝐞 𝐃𝐞𝐭𝐚𝐢𝐥𝐬:

Seed-Sale live: 11th January

Seed Sale Ends: On The 11th Of February Or When Allotted Tokens Are Expended.

Join our seed sale & Buy $Cool Here

Seed 𝐒𝐚𝐥𝐞 𝐀𝐥𝐥𝐨𝐜𝐚𝐭𝐢𝐨𝐧:

70,000,000 COOL Tokens

Seed 𝐒𝐚𝐥𝐞 𝐄𝐧𝐝 𝐃𝐚𝐭𝐞:

11th February Or Until Token Allocation is Expended

Price:

1 ADA = 666 $COOL

Min/Max Contribution

Min — 100 ADA

Max — 10,000 ADA

𝐒𝐮𝐩𝐩𝐨𝐫𝐭𝐞𝐝 𝐰𝐚𝐥𝐥𝐞𝐭𝐬:

$COOL token is a Cardano native token, so you can participate by sending ADA to the seed-sale address using any Cardano Supported wallets which include but not limited to the following below.

Yoroi Wallet

Daedalus Wallet

Adalite Wallet

Nami Wallet

Read More About $Cool Use Cases >>>

https://coollaunch-22981.medium.com/cool-token-tokenomics-its-numerous-use-cases-ab70c081a6f5

ABOUT COOLLAUNCH.IO

When fully developed, Coollaunch will host a full-fledged virtual gaming station incentivized by NFTs and crypto tokens.

COOLLAUNCH.IO Official Links:

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Australia’s parliamentary committee on crypto-assets aims to bring concrete regulatory and policy changes to give a major push to the crypto industry in the country. The committee believes Australia needs a robust policy and regulatory changes to help it compete against the global leaders. The said committee released a draft report on 20th October outlining the need for encouraging investors and ensuring protection against frauds.

Some of the key recommendations in the draft report include,

• Establishing a market licensing regime for Digital Currency Exchanges, including capital adequacy, auditing, and responsible person tests under the Treasury portfolio
• Establishing a custody or depository regime for digital assets with minimum standards under the Treasury portfolio
• Conducting a token mapping exercise to determine the best way to characterize the various types of digital asset tokens in Australia

Andrew Bragg, a senator from the conservative Liberal Party and chair of the committee said that the recommendations in the draft would help Australia set a new regulatory framework for the highly popular crypto industry which will, in turn, help Australia compete against the likes of Singapore and UK. He said,

“The draft recommendations are a big push to detail a cryptocurrency framework for Australia, which would allow us to compete with the U.K. and Singapore,”

Crypto Market Has Become Too Big to Ignore

The Crypto market was primarily seen as a speculative ecosystem for the most past of its life, but that perception has changed quite fast over the past year. Governments have now realized that the crypto market has become too big to ignore as a fad. This is why the likes of El Salvador have made Bitcoin a legal tender, while Paraguay passed a law to legalize the use of Bitcoin and Ethereum in the financial market.

The United States’s policymakers who were adamant about keeping the crypto market at bay have finally approved the first-ever Bitcoin Futures ETF. This shows how the sentiment around the crypto market has changed as it became a $2.5 trillion industry again in October.

People’s Bank of China (PBoC) issued a fresh set of detailed crypto crackdown guidelines today even when many were assured that we are past China crypto ban FUD. The new set of guidelines seems to be quite comprehensive and prohibits every aspect associated with cryptocurrencies. The Chinese central bank deemed crypto illegal and claimed it to be a highly speculative market. The guidelines were issued on three main points that include,

• Prevention of crypto mining
• Prevention of crypto trading
• Bars Foreign crypto exchanges from offering services to Chinese customers

What makes these guidelines significant is the fact that they came directly from the central bank whereas most of the crackdowns in April-May came from different provinces. The documents are also quite detailed and cover every aspect to leave no margin for loopholes. For example, earlier only fiat to crypto was illegal but now any form of crypto trading has been deemed illegal and any native firms found offering technical assistance to foreign exchanges would be held accountable too.

China Central Bank Says Issues Notice To Further Prevent, Dispose Of Risks From Cryptocurrency Speculation

— *Walter Bloomberg (@DeItaone) September 24, 2021

Crypto Mining and Trading Crackdown

The Chinese Central bank noted that crypto mining requires high energy consumption and carbon emissions, low contribution to the economy, and also brings risks derived from the transaction. The documents warned that mining is an eliminated industry and prohibits investment.

China State Planner Says Will Not Allow Cryptocurrency Mining Projects To Participate In Electricity Markets

— *Walter Bloomberg (@DeItaone) September 24, 2021

The document instructs authorities of “strict monitoring, strict prevention of risks, prohibition of increments, and proper disposal of existing mining farms.” The Central Bank also increased the electricity rate by $0.05 per kilowatt-hour to discourage any small or secret mining farms. The Chinese Central Bank also said they would strengthen the management of information around cryptocurrencies on the internet.

The Chinese Central Bank also warned foreign crypto exchanges from offering any kind of trading services in mainland China since it’s an illegal asset in the country.

China Central Bank Says Overseas Cryptocurrency Exchanges Must Not Provide Services To Mainland Investors

China Central Bank Says Cryptocurrency-related Activities Are Illegal

— *Walter Bloomberg (@DeItaone) September 24, 2021

Crypto Market Dumps, Chinese Journalist Claims its FUD

The China crypto crackdown in the past has lead to multi-billion dollar market sell-off in May and the latest set of stricter crypto crackdown policy from the PBOC could lead to similar market mishap. The crypto market started to dump on the news of Chinese crackdown and even though the market was in green earlier today, its currently experincing a bloodbath.

As the whole crypto market started to turn red, another prominent Chinese crypto insider platform claimed it to be a FUD. The Twitter handle Molly claimed the reported PBOC crypto crackdown documents are from mid-September and were released in on September 15 and being recircualted now.

The Market already reacted on those fud around mid-September, don’t fell for it again. https://t.co/pew1kyCZ3d

— Molly (@bigmagicdao) September 24, 2021

The comment period for Federal Reserves’ newly proposed payment and account access guidelines came to an end today. This new regulation is very critical for the crypto ecosystem as per Caitlin Long, founder, and CEO of Avanti crypto bank.

1/ THREAD ABT REGULATORY NEWS in #crypto, which I’ve been chronicling on twitter since April. Seems crackdown has begun. I dunno how it’ll turn out but:
* it won’t impact #BTC #ETH etc directly. Base layers will keep addin’ blocks
* it’ll impact intermediaries & US$ access points

— Caitlin Long (@CaitlinLong_) July 13, 2021

The new payment and account access guidelines set principles for depository institutions to be able to access the Fed & its US$ services directly. Although the proposed payment access guidelines have no mention of cryptocurrencies, Long believes it would impact the crypto market indirectly. Long explained that under the new set of regulations, feds can attack the intermediaries such as onboarding points, US Dollar access points, and fiat gateways.

Why does it matter? Fed guidelines are partly aimed at crypto (despite not mentioning crypto even once). Given what’s happening w/ US$ stablecoins, the guidelines are esp relevant.

Long said the regulation is especially very relevant for the stablecoin industry given another regulation in the form of STABLEAct was introduced in the first quarter of 2021. The proposed regulation would allow US banks to deal in digital assets and even launch their stablecoin.

How Fed can use the new regulation against crypto?

Long explained that the direct access to fed’s reserves might not seem like a big problem to many but the harsh reality is, banking access is critical to the trading business. She also drew attention to the 2017 crackdown by the US government when they asked banks to suspend all services for crypto companies. As a result, a majority of crypto firms either shut down or relocated to other nations.

The lack of banking access for crypto firms is a two-way sword, where on one side crypto firms can’t get banking access, while feds can’t keep track of illegal activities in the crypto ecosystem. Thus, in search of a compliant crypto future, the fed should find a midway to avoid the clash and work with regulators.

The SEC commissioner Gary Gensler has called for investor protection laws to be implemented on crypto platforms as well but hasn’t put forward any framework of guidelines to do so.